Bill Text: NY S00336 | 2023-2024 | General Assembly | Introduced

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Bill Title: Imposes an additional two percent sales tax on retail sales of motor vehicles over $70,000, excluding commercial vehicles and electric vehicles, jewelry over $5,000 and articles of clothing, footwear, handbags, luggage, umbrellas, wallets or watches sold for over $1,000; provides that such tax shall be distributed equally to the credit of the state university of New York and the city university of New York.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - REFERRED TO BUDGET AND REVENUE [S00336 Detail]

Download: New_York-2023-S00336-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                           336

                               2023-2024 Regular Sessions

                    IN SENATE

                                       (Prefiled)

                                     January 4, 2023
                                       ___________

        Introduced  by  Sen. JACKSON -- read twice and ordered printed, and when
          printed to be committed to the Committee on Budget and Revenue

        AN ACT to amend the tax law, in relation to imposing an  additional  two
          percent sales tax on certain retail sales

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. The tax law is amended by adding a new  section  1105-C  to
     2  read as follows:
     3    §  1105-C.  Additional sales tax on certain retail sales. (a) Notwith-
     4  standing any other provisions of this article, on and after June  first,
     5  two  thousand  twenty-three, there is hereby imposed and shall be paid a
     6  tax of two percent upon the receipts from every retail sale of  tangible
     7  personal property of:
     8    (1)  motor  vehicles  sold for over seventy thousand dollars excluding
     9  commercial vehicles and electric vehicles;
    10    (2) jewelry sold for over five thousand dollars; and
    11    (3) any article of clothing or footwear intended  to  be  worn  on  or
    12  about  the  human  body, any handbag, luggage, umbrella, wallet or watch
    13  sold for over one thousand dollars.
    14    (b) The tax imposed by subdivision (a) of this  section  shall  be  in
    15  addition  to the tax imposed on such receipts pursuant to section eleven
    16  hundred five of this article.
    17    § 2. Section 1148 of the tax law is amended by adding a  new  subdivi-
    18  sion (d) to read as follows:
    19    (d) Provided, however, before funds are distributed pursuant to subdi-
    20  vision  (a), (b) or (c) of this section, (1) fifty percent of all taxes,
    21  interest and penalties collected or received by the commissioner  pursu-
    22  ant  to section eleven hundred five-C of this article shall be deposited
    23  to the credit of the state university of New York and (2) fifty  percent
    24  of  all  taxes,  interest  and  penalties  collected  or received by the
    25  commissioner pursuant to section eleven hundred five-C of  this  article
    26  shall be deposited to the credit of the city university of New York.
    27    § 3. This act shall take effect immediately.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00031-01-3